Morgan's Foods Hires Brookwood Associates to Assist in Exploring Strategic Alternatives
Morgan's Foods, Inc (OTC: MRFD) (the "Company") today announced that its Board of Directors has engaged Brookwood Associates ("Brookwood"), as financial advisor to the Company in its evaluation of strategic alternatives to enhance shareholder value. The Board of Directors, with the assistance of Brookwood, will consider a range of options, which may include the sale of stores or groups of stores, or a combination, joint venture or other strategic alliances, in addition to the sale or merger of the entire Company.
No decision has been made to enter into a transaction at this time, and there can be no assurance the Company will enter into a transaction in the future. The Company does not plan to disclose or comment on developments regarding the strategic review process until it is complete or further disclosure is deemed appropriate.
About Morgan's Foods
Morgan's Foods, Inc. operates 56 KFC restaurants, 4 Taco Bell restaurants, 9 KFC/Taco Bell "2n1's" and 3 Taco Bell/Pizza Hut Express "2n1's" in the states of Ohio, Pennsylvania, West Virginia, New York, Missouri and Illinois.
This press release may contain forward-looking statements. We may use words such as "anticipates," "believes," "intends," "plans," "expects," "projects," "estimates," "will," "should,"